S&P 500: Weekly Analysis, Upward Trend Continues
30 May 2023
S&P 500 Index: WEEKLY SCENARIO
S&P 500 Index Technical Analysis: Weekly Chart
In the weekly charts, S&P 500 was trading in a down channel. S&P 500 is currently trading above the middle line of Bollinger bands.
RSI is in the neutral zone which indicates neutralness. MACD is currently above zero which indicates bullishness.
Its immediate support is 3900.00 the resistance level is at 4400.00
S&P 500 was traded in a down channel before there is a trend reversal.
S&P 500 Index Technical Analysis: Daily Chart
In the daily charts, S&P 500 is trading in an up channel. S&P 500 is currently trading above the middle line of Bollinger Bands.
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 4100.00 the resistance level is at 4400.00
S&P 500 will trade in an up channel until there is an upside breakout.
How to Trade S&P 500 Index this Week:
S&P 500 will follow the uptrend until its trend reversal. So, remain bullish on S&P 500